Allenton-based metal fabricator Maysteel Industries
has merged with Gastonia, North Carolina-based Porter’s Group
, the companies announced Monday.
"This merger creates a dynamic company and a much stronger competitor that responds to the needs of our customers and markets we serve,” said Kevin Matkin, chief executive officer of Maysteel. “With greater scale, improved market leadership, increased engineering expertise, complementary strengths and geographic reach we have a broader product base to offer our customers from locations where customers need us.”
Financial terms of the deal were not disclosed.
Matkin will be CEO of the newly combined company. Guy Roberts, formerly CEO of Porter’s Group, will be chief operating officer.
The combined company will operate under the Maysteel brand name. The previous owners of the two companies, Georgia-based Littlejohn Capital
in the case of Maysteel and Ohio-based Resilience Capital Partners
for Porter’s Group, will both continue was equity partners in the combined company.
“The continued support from Littlejohn Capital and Resilience Capital allows us to benefit from the combined resources of these two firms who have extensive expertise in our industry," Roberts said.
Maysteel specializes in designing, engineering and manufacturing custom sheet metal enclosures and cabinets. Porter’s Group is a sheet metal fabricator serving 20 diverse industries. The combined company will have more than 1,000 employees across six locations in the U.S. and Mexico.